Lahore, June 27, 2019 (PPI-OT): The rating reflects the fund’s low risk profile emanating from its portfolio allocation towards low risk avenues. At end Dec-18, ~74% of the fund’s assets were invested as cash and ~14% as TDRs. The exposure with AAA rated investment avenue was 19%, whereas, exposure with ‘AA+’ rated avenues were 42%’. The unit holding pattern of the fund emanates moderate liquidity risk as top ten investors represent 55% of the fund’s assets at end Dec-18.
Going forward, the rating remains dependent on maintaining exposure with high credit quality financial institutions. Meanwhile, the remaining assets of the fund must be placed with scheduled banks having credit ratings ‘AA’ and above.
For more information, contact:
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com